Dominic Raab, the man at the helm of the British government while Boris Johnson is hospitalized, has been both an ally and a rival to his boss.

During the Brexit campaign in 2016, Raab campaigned alongside Johnson successfully to break away from the European Union. Three years later, the pair stood against each other in the Conservative Party’s leadership contest.

Johnson won, and then triumphed again in the general election that followed — but it is Raab, a former Foreign Office lawyer, who is now in charge of the government as the prime minister receives treatment in intensive care.

“There’s an incredibly strong team spirit behind the prime minister,” Raab said late on Tuesday. He said he and his colleagues are focused on ensuring Johnson’s instructions are “implemented as soon as possible.”

Raab, 46, has been in Parliament since 2010, but he struggled to rise under former Prime Minister David Cameron. Instead, he became a troublemaker, asking awkward questions of the government and then backing Brexit. That upset voters in his southwest London district, and he came close to losing the usually safe Conservative seat in last year’s election despite a national surge for the Tories.

His chance …

Be brave and take the risk, especially during a time of crisis, says the entrepreneur.


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In this series called Member Showcase, we publish interviews with members of The Oracles. This interview is with Pam Jordan, president of Pivot Business Group bookkeeping and financial executive services. It was condensed by The Oracles.

What was a defining moment in your life?
Pam Jordan: I metaphorically played the violin on the deck of the Titanic as my employer sank into bankruptcy. I’d worked there for over 10 years and was sold on the vision and leader. Due to bad sales contracts, the company outran its cash and had to file for bankruptcy. I worked as hard as I could to save the company, but the damage was too severe.

Through that experience, I learned that loyalty and integrity matter above all else and that I only wanted to work with people who had those traits. It also planted a calling in my heart to help other entrepreneurs avoid what I went through. Now my driving force is to grow companies’ profits so they can have freedom and weather

The entrance to a Macy’s department store.

Jeffrey Greenberg | Universal Images Group | Getty Images

Macy’s said Tuesday that Chief Financial Officer Paula Price will be leaving the company, effective May 31. 

The company said an external search is underway for Price’s replacement. It also said Price will remain an advisor to Macy’s until November. 

Price has served as CFO since July 2018. 

“We will continue to take all necessary actions to ensure that Macy’s, Inc. emerges from this pandemic on solid footing and ready to serve our customers,” CEO Jeff Gennette said in a statement. “Paula remains a critical part of our plan, and while I respect her decision, I also appreciate the long runway she is giving us for this transition.” 

Macy’s shares were last up more than 10% in premarket trading following the announcement. The stock has fallen more than 60% this year.

Macy’s, which has a market cap of about $1.7 billion, was recently dropped from the S&P 500, and replaced by Carrier Global. It has been banished all the way down to the small-cap S&P 600, skipping the mid-cap S&P 400. Macy’s had a market cap more than double what it is today,

Michael Burry, the doctor-turned-investor who famously bet against mortgage securities before the 2008 financial crisis, has taken to Twitter with a controversial message: lockdowns intended to contain the coronavirus pandemic are worse than the disease itself.

Government-directed shutdowns in the U.S., which led to millions of job losses and may trigger one of the country’s  deepest-ever economic contractions, aren’t necessary to contain the epidemic and have disproportionately hurt low-income families and minorities, Burry argued in a series of tweets over the past two weeks. He also said some controversial treatments for Covid-19, such as the malaria drug hydroxycloroquine, should be made more widely available.

Burry earned his M.D. at the Vanderbilt University School of Medicine, but decided to become a professional investor after making hugely profitable bets in the stock market. He shot to fame after his hedge fund’s bearish mortgage wagers were chronicled in “The Big Short,” an Oscar-winning movie based on the best-selling book by Michael Lewis.

Although Burry has mostly kept a low profile since then, he started sharing his views more widely last year to warn of a central-bank fueled “bubble” in passive investment products. He’s now focusing on the outbreak that has shuttered economies, killed almost 75,000 people worldwide and …

India partially lifted a ban on the exports of a malaria drug after President Donald Trump sought supplies for the U.S., according to government officials with knowledge of the matter.

Exports of hydroxychloroquine and paracetamol will be allowed depending on availability of stock after meeting domestic requirements and existing orders, said the government officials, who asked not to be identified citing rules. Shipments will be restricted and permission will be on humanitarian ground, they added.

The spokesman for the trade ministry was not immediately available for comment.

Normally used to treat malaria, hydroxychloroquine yielded promising yet inconclusive results in a small coronavirus trial. While Trump has said the drug is safe, it carries significant side effects. China, Europe and South Korea recommend it as one of several treatments for Covid-19 patients, while India itself advocates health-care workers take the drug regularly as a preventive measure.

Still, some top scientists, including White House coronavirus task force member Anthony Fauci, have called reports that the drug might work anecdotal, and said there needs to be further study before its use is encouraged.

Trump said at the White House on Monday he was unaware Indian Prime Minister Narendra Modi had banned …